California Public Employees Retirement System Invests $14.07 Million in BitMine Immersion Technologies, Inc. $BMNR

California Public Employees Retirement System purchased a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 711,435 shares of the company's stock, valued at approximately $14,072,000. California Public Employees Retirement System owned 0.12% of BitMine Immersion Technologies as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Milestone Asset Management LLC increased its holdings in BitMine Immersion Technologies by 5.6% during the 4th quarter. Milestone Asset Management LLC now owns 8,185 shares of the company's stock valued at $222,000 after acquiring an additional 432 shares in the last quarter. Certuity LLC grew its holdings in BitMine Immersion Technologies by 0.3% during the 4th quarter. Certuity LLC now owns 180,707 shares of the company's stock valued at $4,906,000 after buying an additional 552 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of BitMine Immersion Technologies by 6.2% during the 4th quarter. Dakota Wealth Management now owns 12,140 shares of the company's stock worth $330,000 after purchasing an additional 710 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of BitMine Immersion Technologies by 4.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 15,467 shares of the company's stock worth $420,000 after buying an additional 711 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth about $37,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. B. Riley Financial reduced their target price on BitMine Immersion Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Cantor Fitzgerald dropped their price target on BitMine Immersion Technologies from $39.00 to $30.30 and set an "overweight" rating for the company in a research note on Wednesday, July 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of BitMine Immersion Technologies in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $27.65.

BitMine Immersion Technologies Stock Down 4.6%

Shares of BMNR opened at $15.82 on Friday. The firm has a market capitalization of $9.54 billion and a PE ratio of 316.44. The firm has a 50-day moving average price of $16.39 and a 200 day moving average price of $20.60. BitMine Immersion Technologies, Inc. has a 52-week low of $12.80 and a 52-week high of $71.74.

BitMine Immersion Technologies (NYSE:BMNR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported ($128.25) EPS for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.35%. The company had revenue of $46.53 million for the quarter. On average, equities analysts expect that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current year.

BitMine Immersion Technologies Profile

BitMine Immersion Technologies, Inc (NYSE American: BMNR) is an engineering and technology company specializing in immersion cooling solutions for digital asset mining and high-performance computing (HPC) applications. The company develops proprietary direct-to-chip systems that submerge servers in non-conductive dielectric fluids to efficiently remove heat, enabling clients to achieve higher processing density and improved energy efficiency.

BitMine offers turnkey services spanning system design, equipment supply, installation and ongoing maintenance.

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